Legal & General Group Plc Grows Stock Position in Apollo Global Management Inc. $APO

Legal & General Group Plc increased its position in shares of Apollo Global Management Inc. (NYSE:APO) by 4.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,611,839 shares of the financial services provider’s stock after purchasing an additional 155,857 shares during the quarter. Legal & General Group Plc’s holdings in Apollo Global Management were worth $522,850,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Chesapeake Asset Management LLC lifted its holdings in Apollo Global Management by 3.6% in the 4th quarter. Chesapeake Asset Management LLC now owns 2,065 shares of the financial services provider’s stock valued at $299,000 after purchasing an additional 72 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its stake in Apollo Global Management by 1.4% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 5,553 shares of the financial services provider’s stock worth $740,000 after purchasing an additional 78 shares during the last quarter. Mitchell & Pahl Private Wealth LLC boosted its stake in Apollo Global Management by 0.8% during the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 9,553 shares of the financial services provider’s stock worth $1,383,000 after purchasing an additional 80 shares during the last quarter. Sunbelt Securities Inc. boosted its stake in Apollo Global Management by 16.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 566 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 82 shares during the last quarter. Finally, United Advisor Group LLC lifted its stake in shares of Apollo Global Management by 4.7% in the fourth quarter. United Advisor Group LLC now owns 1,948 shares of the financial services provider’s stock worth $282,000 after buying an additional 87 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Apollo Global Management Stock Down 0.0%

APO stock opened at $128.50 on Tuesday. The company has a market cap of $74.08 billion, a price-to-earnings ratio of 81.85, a PEG ratio of 1.08 and a beta of 1.52. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45. Apollo Global Management Inc. has a 12 month low of $99.56 and a 12 month high of $157.28. The firm has a 50-day moving average of $119.37 and a two-hundred day moving average of $127.97.

Apollo Global Management (NYSE:APO) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.05. The company had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. Apollo Global Management’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.82 earnings per share. As a group, analysts forecast that Apollo Global Management Inc. will post 8.29 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th will be issued a $0.5625 dividend. This represents a $2.25 annualized dividend and a yield of 1.8%. The ex-dividend date is Tuesday, May 19th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.51. Apollo Global Management’s dividend payout ratio (DPR) is presently 143.31%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on APO. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Apollo Global Management in a research report on Thursday, May 7th. Piper Sandler cut their price objective on shares of Apollo Global Management from $165.00 to $146.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Barclays increased their price objective on shares of Apollo Global Management from $125.00 to $131.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Wall Street Zen downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Apollo Global Management from $164.00 to $162.00 and set an “overweight” rating for the company in a report on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Apollo Global Management presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.38.

About Apollo Global Management

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.